October 1989

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Credit UnionInsuranceServices
and YOU
Together,An Unbeatable Team!
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IIt
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Thefightformarketshareis on.The
toughestfightyou'vefacedin a longtime.
Withderegulation
on thebrinkof turning
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opencontest- youcan'tletdownfor a
second.Trust
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unionsarescramblingforposition.Only
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Areyoufitto facethecompetition?
Ifyou'reinvolvedin creditunionmarketing
or managementand seriousabout
maintainingyourcreditunion'sabilityto
competeinthefuture,teamup withyour
creditunioncolleaguesandassociates.
Besureto attendtheupcomingAdvisory
Programinyourarea.Discuss
marketing
manoeuvres
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And
beginto plan- to win!
~re theoHefor Y0111
CUMIS Corporate Office:
P.O. Box 5065, 151 North Service Road, Burlington , Ontario L7R 4C2
Administrative Offices:
Burl ingto n, Ontario; Laval, Quebec ; Regina, Saskatchewan; Vancouver, British Columbia
Sales Offices:
Vancouver, Calgary, Edmonton , Regina, Saskatoon, Winnipeg, Toronto , Hamilton , London, Windsor, Ottawa,
Sudbury, Thunder Bay, Jonq uiere, Ste-Foy, Laval, Halifax, Sydney , Moncion, St. John's, Charlottetown
Volume 49
No. 5
September/October 1989
CREDITUNION FEATURES
3
14
Credit Unions in the Cariboo
KidZone Kicks Off
MANAGEMENT
PERSPECTIVES
8
12
A Day at Director Training
Brains in the Branches
16
Book ReviewBeyond the Market and the State
What's the Point of a
Point-Factor System?
20
The forest industry is still king in 8 .C.'s Cariboo Region,
home of two distinctly different credit unions. Profiles start
on page 3.
SPECIALFEATURES
18
The Launch of
Stabilization Central
22
Travels with Tucker
26
CUMIS /Co-operators Collaborate
DEPARTMENTS
25
The Director's Chair
A credit union province-wide promotion is helping the
Knowledge Network achieve quality in children 's TV pro·
gramming. Page 14.
Enterprise staff:
Editor: Gayle Stevenson
Associate Editor: Tom Gies
Production Co-ordinator: Dena Sander
Cover Art: Dave Webber the Artist
Contributing Writers: Bill Annett , Coro Strandberg
Illustrations: Mary Jane Muir
Enterprise is published by B.C . Central Credit Union.
Subscription rates: $18/yr . Canada ; $21/yr. USA; $24/yr. Overseas (CDN)
Opinions expressed in this publication are not necessarily those of the publisher
or editor. The contents are covered by copyright and all rights are reserved.
No material in this publication may be reproduced in any form without
permission. For information concerning Enterprise contact: Publications
Department, B.C. Central Credit Union, 144 1 Creekside Drive ,
Vancouver, B.C. V6J 457 , Phone: (604) 734-2511
ISSN 0319-8626
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In this issue
I,
!
It's harvest time and this issue of
Enterprise offers a cornucopia of articles,
unrelated by theme, but hopefully of
interest to credit union players and
observers.
Kicking off the fall round-up are
profiles of two distinct credit unions in
the Cariboo, an area renowned for its
rugged beauty, wild rodeos and fierce
independence. One credit union , Quesnel
and District, is poised to shake off the
yoke of supervision while the other,
Williams Lake and District, prepares to
bid adieu to a General Manager whose
prudent style has led to constant growth
during his tenure.
Another item in our bushel of articles
highlights a unique aspect of this year's
province-wide advertising--0ur visual centrespread features KidZone, an upcoming
Knowledge Network TV series, cosponsored twice weekly by B.C. credit
unions and targetted to the pre-teen
market.
ti
",,
B.C. Central
Credit Union
Board of Directors
Tod Manrell, Chairman
John Charlesworth, 1st Vice-Chairman
Ross Parkin, 2nd Vice-Chairman
Philip Moore
Steve Waddell
Mike Betts
Tom Dandeno
Dave Griffeth
Dennis Humphries
Henry Jansen
David Lach
1an MacPherson
Cathy Manson
Sylvia Pritchard
Susanne Raschdorf
Management perspectives in this issue
begin with a report from editor Gayle
Stevenson, who dropped in on a session
of the Director Achievement Program and
shares observations from participating
directors. Freelance writer Bill Annett
once again contributes to the line-up , this
time describing how branch automation
has changed the character of banking,
including the nature of service delivery
and consumer attitudes.
Elsewhere , B.C. Central Development
Consultant Lin Sheffield provides details
on the job evaluation and compensation
system recently adopted by B.C. credit
unions. And Coro Strandberg, a director
of Vancouver City Savings, reviews
Beyond the Market and the State: New
Directions on Community Development,
a series of essays proposing economic
alternatives of interest to co-operative
organizations.
In a special report on the creation of
the new Stabilization Central, our editor
interviewed interim chairman Doug Stanley
Regional
Executives
and interim CEO Ross Montgomery, who
cut through dense organizational documentation to explain , in layman' s terms,
how the system-controlled entity fits into
the picture. Also featured is an interview
with the recently retired Earl Tucker, who
reflects on a 30-year career as government credit union inspector, CURB supervisor and branch manager. Finally,
senior regional managers from B. C. ' s
two co-operatively-owned insurance agencies relate why a marketing agreement for
their dealings with B.C. credit unions
was struck after years of fierce competition.
In the Director's Chair, we're pleased
to welcome Bob Gela, President of the
Board, Powell River Credit Union. He
credits sound management for the strong
performance in recent years at B. C. 's first
chartered credit union.
-Tom Gies
Associate Editor
OKANAGAN
John Beall , Thompson Valley
A. Melnychuk, Vernon
F. Olnyk, Revelstoke
W. Ralph, Revelstoke
S. Watts, Vernon
KOOTENAY
M. Dean , Warfield
J . Harasin, Rossiand
R. Leamy, Castlegar
S. Miskow, Kimberley
M. Zsoltaros , Creston
NORTHLINE
L. Biech, Prince George
D. Griffeth , Lake View
E . Hollingshead, Lake View
C. Mcintosh, Spruce
J. Seguin , Nechako Valley
VANCOUVER ISLAND
8. Bittner, Victoria Federal Employees
G. Dunn, Cee Pee
G . Eggers , Nanaimo
B. Hayes, Pacific Coast Savings
C. Howland , Greater Victoria
B. James, Powell River
D . Parker, Parks ville
R. Philip , Comox Valley
M. Schubart, Island Savings
•
Denotes Chairperson
FRASER VALLEY
C. French, Maple Ridge
N. Friesen, Matsqui Prairie
E. Gandy, Westminster
B. Gilbert, Delta
M . Gordi, Fraser Valley
B . Voth, First Heritage
GREATER VANCOUVER
E. Anderson, Squamish
M. Bailey, Finning Employees
R. Ballam , V.P.
C. Barry, Richmond
S. Brueckner, United Services
W. Cook, Civic
D. Fuhr, Mt. Pleasant
E. Gallagher, Compensation Employees
S. Pritchard, B.C. Teachers
C. Shretlen, Greater Vancouver Community
R.W. Slater, North Shore
C. Strandberg, Vancouver City Savings
Confidence snowballs
in the central Cariboo
A profile of Quesnel and District Credit Union
by Tom Gies
Confidence has returned to Quesnel and
District Credit Union. As more than six
years of supervision draws to a close,
management, directors and staff are
proud to recite a litany of recent accomplishments: $50 ,000 profit in August, an
almost non-existent delinquency rate,
steadily rising assets and payment of
dividends to loyal members.
Morale is sky high at the credit union
that consumed and spat out half a dozen
managers between 1984 and 1986. During the same period, an expensive branch
office sat vacant and several directors
resigned or were suspended following the
appointment, by CUDIC, of an administrator. According to one staffer, in the
mid- ' 80s the credit union was "the
lending institution of last resort in
Quesnel."
What turned the situation around ?
Board President Ken Reid answers:
"CUDIC recommended we hire Ron
Silvey. We had some incredibly tumultuous times before he arrived in June 1986.
But that's all in the past and we' re looking
forward to taking away even more business from the five banks in town."
General Manager Silvey is more modest about the successes over the past three
years. He credits competent staff, a
strong board , the credit union 's profitable
insurance agency, a good working relationship with CUDIC and the resilient
local economy for the credit union's
change in fortunes.
Shortly after his arrival, Silvey embarked on a cost-cutting and selling
mission. The vacant branch in south
Quesnel and two downtown offices were
sold. The credit union 's basement was
renovated and leased. Even the parking
Logging truck hauls forest products, the mainstay of the Cariboo economy. over one
of the many bridges in the area spanning the Fraser River
ENTERPRISE SEPTEMBER I OCTOBER 1989
3
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lot was not immune ~ it was rented to an
adjacent hotel. Resale properties and
delinquencies were disposed of. Operating budgets slashed money for janit orial,
courier and other services. Silvey credits
Operations Manager Maureen William s
for smoothing the transition to a more
efficient operation while the credit union
volume of busin ess was increasing .
Silvey adds that early in his tenure he
made it clear to staff that he placed a high
priority on " human resources." Staff
meetings feature open and frank discussions. New innovations are explained and
discussed and ideas coming out of brainstorming session s, such as interest-free
computer Joans for staff , are implemented.
President Reid believes the current
board is the most efficient since he was
elected a director in 1985. "We have
some new Canad ians and they've brought
us some good ideas from West Germany
and Britain , in addition to a director with
experien ce on a credit union bo ard in
Alberta. We have business people sitting
with union representatives and the ideas
really fly around."
Senior managem ent and the board of
directors hold strategic planning sessions
at nearby retreats to thrash out ideas , set
goals and come up with essentials including rewriting the mission statement .
Shortly after Silvey's arrival , a portion
of each board meeting was allocated to
reading the Directors' Manual chapter-bychapter. Director s were soon aware of
their responsibilities.
Now , with community confidence in
the credit union at a high level, an
aggressive thrust for more personal business of members is a short-term priority,
to be followed by a possible re-entry into
the business loan market. Silvey provides
an anecdote to illustr ate the current
momentum . He claims that a woman was
so upset with the service at a local bank
that she paid a $900 penalty to get out of
a substantial loan . Not only did she bring
her business to the credit union , she also
brought that of her sister and daughter.
New members are recruited through
advertising, often in conjunction with the
insurance agency, as well as word-ofmouth . Member ship is about 3,600 out
of a local popul ation of 15,000 and a
trading base of 25 ,000.
--An
overview--
The central-south Cariboo region is heavily dependent on forestry
industries: logging, milling and pulp and paper processing. Mining , cattle
ranching , farming and tourism also provide jobs . The unemployment rate
varies from a high of about 15 percent in 100 Mile House to about half
that figure in Quesnel. Per capita income has decreased in the past five
years as many high-paying jobs in resource industries were lost . However,
several recent announcements of construction plans, including a $140
million fibreboard plant , have increased confidence in the area .
Quesnel and District Credit Union , formed in 1951, had assets of
$18 million in July, up from $16 .3 million at the end of 1988. Membership
of about 3 ,600 is served by the credit union and adjoining insurance office ,
Ques-Cu , in downtown Quesnel. The credit union has been under
supervision since 1983. Williams Lake and District Credit Union , with
about 6,000 members , had assets of $31.9 million in July, up from $29 .1
at the end of 1988. Amalgamated in 1952, the credit union opened a branch
in 100 Mile House in 1978.
0
Cattle ranching is an important secondary industry in the region, but ranchers are
not well represented in credit union membership
When Silvey arrived, the credit union
was losing money but its insurance
agency, Ques-Cu, was profitable. Cathy
Schaefer, Insurance Manager for the past
two years, explains that in competition
with three other agencies in town, her
operation has at least one-third of the
ICBC and general insurance business in
Quesnel. About half of the insurance
clientele are credit union members and
the six staffers use the same principles of
personal service as their counterparts in
the credit union next door.
Ques-Cu staff are trained in-house but
they are also encouraged to take licensing
courses. When Schaefer received her
CAIB Ill management certifi cate, the first
in town, an ad was placed in the local
newspaper congratulating her, although
"w e didn't flaunt it ," Silvey says with a
smile.
Meanwhile, working with CUDIC is
nothing new for Ron Silvey. Of the 18
years in his credit union career, about 14
have been spent at credit unions under
supervision . Silvey admits that in the
1970s he was initially resentful of CURB
(CUDIC 's predecessor) interference in
credit union affairs. But after working
with the supervisors, his attitude soon
changed when he realized that they were
helpful and had the interests of the
provin cial credit union system at heart .
Starting his career at credit unions in
Princeton and Lillooet in the early 1970s,
Silvey later worked at Columbia Valley
Credit Union and Snow Valley Savings
Credit Union as . they were being re-
ENTERPRISE SEPTEMBER I OCTOBER 1989
5
General Manager Ron Silvey
leased from supervision. In both cases,
he continued to use CUDIC staff as
resources afterwards. "They are competent , knowledgeable people," he says and
credits CUDIC supervisory officer Ron
Luginbuhl with being instrumental in
Quesnel and District Credit Union's
turnaround.
The buoyant local economy, of course,
helps the credit union bottom-line. The
forest sector, including pulp mills, plywood and lumber plants and logging, is
strong. Hay and dairy farming , ranching ,
mining and tourism also contribute to the
job market.
The credit union has targeted mortgages as a growth area. After meeting
with agents from the four major real estate
agencies in town , Silvey, Loans Manager
Max Starr and Loans Officer Ellen Cake
implemented several policies including
assumable mortgages , no renewal fees,
credit union payment of appraisals and
faster turnaround. Silvey claims that the
credit union is now close to the top in the
local mortgage market. In the past year,
he adds, the credit union has issued about
350 mortgages for a net increase in value
of $1. 25 million to a total of $12 million.
Long-time Cariboo resident Poul Gyllich is happy to witness the return of
prosperity to Quesne l and District Credit
Union. As the number two charter member, Gyllich was persuaded to take on the
position of "temporary treasurer" in
1952. He held the post for 18 years and
remained active on the credit committee
until 1984.
Born in Copenhagen, Gyllich has lived
in the Cariboo since the 1940s. He
remembers the celebrations on Credit
Union Day when tables would sag from
the weight of home-cooked food and
orchestras would play dance music until
late at night. He also remembers admonishing members to keep their spending
under control. "It got to be a bit much, "
he recalls , shaking his head . "One
plywood worker used to ask my opinion
every time he wanted to buy something ,
even a pair of pants. "
As Gyllich's biggest disappointment
was not being able to provide business
loans for members with viable plans, he
is delighted to hear that Quesnel and
District Credit Union now has the confidence and the capability to carefully
provide such a service .
D
Steady at the helm
Smooth sailing into the 1990s forecast.for Williams Lake and District Credit Union
LAKE
General Manager Peter Fradette (left) and Operations Manager Ken Fedoruk
6
ENTERPRISE SEPTEMBER I OCTOBER 1989
The good folk of the south Cariboo are
an independent-minded lot and, byelec tions aside , a pretty conservative crew.
Their support for Williams Lake and
District Credit Union reflects those
attitudes: its assets have increased more
than 100-fold since Peter Fradette became
General Manager. Mind you , Fradette has
been at the helm for almost 20 years and
the growth to about $32 million , for the
most part, has been slow and steady.
Fradette attributes the constant rise to
a diligent approach to daily work at the
credit union. "Our number one priority
is, and always has been, to service our
members as best we can. We believe in
the old credit union philosophy of service. I've projected to my staff that
continued on page 10
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A day at director training
Directors respond as program equips them to handle increased responsibility
by Gayle Stevenson
unions . Also available are closed sessions, where directors from only one or
two credit unions are present, usually
delivered on the premises of the sponsor.
Suzanne Thomson delivers modules I and II of the Director Achievement Program
On a Saturday made for sailing or
sunning-almost anything but sitting in
a classroom-20 directors, representing
seven credit unions, gathered at B. C.
Centra l. They were there as participants
in the first two modules of the Credit
Union Director Achievement Program
with instructor Suzanne Thomson. And
at the conclusion of the session , there was
agreement among the group that it was
worth forgoing a day of leisure.
Developed by the various provincial
centrals in conjunction with the Canadian
Co-operative Association (CCA) and introduced in 1988, the Director Achievement Program addresses the information
needs of volunteer directors in a nationally standardized format.
Consisting of nine separate modules ,
usually delivered two at a time, the
material starts with directors' basic , legal
8
ENTERPR1SE SEPTEMBER I OCTOBER 1989
and financial responsibilities, progresses
through leadership, planning and risk
management, and concludes with board
development, performance evaluation and
management recruitment. The first four
modules are being offered in B. C. at this
time; the remainder are being pilot tested
and will be brought on stream in stages
during 1990.
Over the past year, credit unions in
every part of Canada have enthusiastically adopted the program. Here in
British Columbia, Central's Training Department has delivered the initial modules
to 430 directors from 80 credit unions in
the six months since April 1989.
The directors who met on Saturday,
September 9, were attending an open
session . These are delivered at locations
throughout the province, combining participants from any number of credit
As noted by Suzanne Thomson, one
advantage of an open session is that it
provides opportunities for exchanging
ideas among directors from a variety of
credit unions. This process was very
much in evidence on September 9 as
directors from some of B. C. 's largest and
smallest credit unions shared points of
view and compared experience s.
During a break in the afternoon session
on board responsibilit ies and accountabilities , participants discussed their reactions to the course and how it might affect
their performance as directors .
Barrie Suter of Squamish Credit Union
makes a point about the need for director
training
North Shore Credit Union ' s Rick
Staehli, who attended with fellow director
Roger Lundie, applauded the training for
its modular, well-defined structure , commenting it was vastly more effective than
previous courses that "tried to be allencompassing and ended up operating at
the lower common denominator of understanding."
To Dan ·Roberge , part of the large
contingent from Caisse Populaire Maillardville Credit Union (which also
included Femand Bouvier, Richard Carroll, Arce) Girrard, Patrick Martin , Paul
Fouquette, Gilles Lizee and Jean Riou),
the program provides evidence that today's directors are setting trends for the
future. With increased exposure to education and training, he sees "tomorrow's
board members becoming increasingly
active."
Barrie Suter, who, with Bill Brown,
represented Squamish Credit Union,
believes that credit union directors are
morally obliged to take advantage of
program s that will benefit members. He
notes , "This job is not an ego-trip-it
takes personal commitment."
Directors Gilles Deschenes and Ken
Sherwood spoke for Greater Vancouver
Community Credit Union, while Larry
Gardner of B.C.S.R. Savings Credit
Union discussed some of the particular
issues facing directors of B.C. ' s small
credit unions .
Terry Fryer, who attended from Maple
Ridge Community Credit Union with
Doug King, Ray Tweedie and Clive
French , ·points out that , along with a
director ' s financial respon sibilities, the
human aspects of leadership are becoming more and more complex, highlighting
the importance of effective director training.
For French , training is a director's
obligation ("you just build it into your
schedule") ; Tweedie comments on relevancy of the current program, noting
" years ago, the only education you
received was picked up at General Meetings ."
Jack Turner, a newcomer from Union
Bay Credit Union , perhaps most succinctly described the value of the program: " I'm fairly new to my credit union.
But the more I get involved, the more
responsibility comes my way-and the
From left: Directors Ken Sherwood (Greater Vancouver Community) , Fern Bouvier and
Patrick Martin (both of Caisse Pop ulaire Maillardville)
more I need this kind of training. The
major thing a director must be aware of
is the extent of his or her accountability."
A man of his word, Turner spent the
following Saturday absorbed in the next
level of training- legal responsilbilities
and financia l management- at modules
III and IV in Nanaimo .
Credit unions wishing information about
the Director Achievement Program should
contact the Training Department , B . C.
Central.
0
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Steady at the helm
continued from page 6
members are special and they should be
made to feel that way. If you keep that
attitude, day after day, it pays resultsboth in member loyalty and new members. "
The service, according to Operations
Manager Ken Fedoruk, ranges from the
traditional first-name greeting and Jack
of long line-ups to providing security
cameras and a locked door at the well-lit
ATM so members feel safe accessing cash
after hours. (Williams Lake has one of
the highest crime rates in British Columbia.) From his perspective of eight years
at Williams Lake and District and 14
years at a bank, the credit union's
competiti ve advantage is that , "We can
be more flexible, more innovative. And
by not having to deal with Toronto or
Vancouver, we can make decisions much
quicker."
This flexibility has allowed senior
management and the board to modify
strategic planning. Like other credit
unions in resource-dependent areas , Williams Lake and District suffered through
the early 1980s when prices and demand
for forestry products, the mainstay of the
local economy, plummeted. Fradette explains: "We are more conservative today
and we have a better mix of assets. But
we don't dwell on problems of the past.
We adjust to ongoing conditions . "
Two of the nine board members represent the interests of members from 100
Mile House, where a credit union branch
office is located. Directors are business
people , a school teacher, a retired RCMP
officer, a retired health inspector, a
retired IWA official and the chief accountant at a local mill.
Williams Lake is famous for its nearby
ranches, and the annual stampede contributes to the growth of tourism as a major
industry. Ranchers , however, are not
well represented among the membership
because , as Fradette explains , federal
legislation prevents credit unions from
providing the kind of service they need.
Banks, on the other hand, "are empowered to have debentures over the assets
of ranches." Because the credit union
can 't provide business loans to the
ranchers, few of them join as members,
much less become directors.
The credit union donates to such local
projects as a seniors' raffle and an arena
but does not have ongoing community
projects other than the provision of
bursaries to students.
The grounds of the Williams Lake Stampede sit nearly deserted in mid-September but
are packed with boisterous cowboys , savvy locals and greenhorn tourists during the
summer rodeo
10 ENTERPRISE SEPTEMBER I OCTOBER 1989
The 100 Mile House branch of Williams Lake and District credit union was
opened in 1978. Residents there wanted
a credit union but determined it was not
feasible to establish one of their own.
Lois White, branch Office Manager, says
that unemploym ent in the town of 3 ,500
is "pretty grim , about 15 percent" but
townsfolk are excited about proposed
projects for the area that would inject new
jobs and vitality.
When the situation improves in 100
Mile House, Loans Officer Leila Floberg
is poised to snap up the new business.
"We have the best mortgages in town and
people know it. About half of our loans
are mortgages." About a quarter of the
credit union's 6,000 members are from
the 100 Mile House area. The credit union
rents premi ses at a local ma)l close to the
highway .
Meanwhile, Peter Fradette is clearing
the deck for a new General Manager to
come on board in 1990. He wants the
transition to be smooth and believes he
is leaving a solid institution behind. As
he prepares to sail into the sunset of
retirement (or at least motorhome to the
Maritimes) , Fradette reflects on his credit
union career. "I started in Radville,
Saskatchewan in 1955 and became manager about four years later. I stayed there
until 1970 when I moved here. It was
quite an adventure. My wife and six kids
had second thoughts when we arrived ,
but we grew to Jove Williams Lake. A
highlight was opening our new building,
which we own, in 1976. The town and
the credit union system have been good
to me."
He foresees steady growth for Williams
Lake and District Credit Union and is also
optimistic about the state of the B. C.
credit union system. He says that recent
innovations such as FICOM (Financial
Institutions Commission) are necessary
measures in an evolving system. "Adjustments are always occurring in any
large-scale operation. They make the
organization stronger and better," he
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Brainy branches: latest wave
in credit union automation
by William Annett
"Computer technology will keep the
smaller credit unions in business ," says
Ralph Proceviat, CEO of Cue Datawest
Ltd.
Based in Vancouver, Datawest counts
among its clients over 60 B. C. credit
unions of all sizes. It has become abun dantly evident, says Proceviat, that given
the capability now available for the single
as well as the multi -branch credit union
organization, they can perform literally
any function that the major banks can.
"And the benefits include the creation
of a more tightly-knit system--even in a
small town, for example."
Technology has paved the way for a
revival of the computerization revolution
that took place in B .C. 's credit union
movement in the early 1980s. Whereas
the early years of the decade saw the
proliferation of personal computers and
dumb terminals, the current movement is
toward intelligent terminals and networking with central systems , so that both the
scope of the computer upgrading and the
emphasis are different - and by no means
limited to the larger credit unions , although characteristically the latter are
leading the charge.
" Previously", says Bill Sorenson, VicePresident, Branch Operations for North
Shore Credit Union in North Vancouver,
"our system was made up of PCs , many
of which were not tied in. The system
we're now installing is a complete network centering on head office."
The old system included dumb terminals within the branches , which meant a
commitment to paper in many cases. By
contrast, the new system will network
intelligent terminals providing access to
head office data banks and processing.
"Our first pilot will go into operation
by November, " says Sorenson , "and our
total system cost will be about $1
million."
While the capital outlay is undeniably
substantial , Sorenson believes the resulting cost savings will more than justify the
expense . The largest saving will be on
systems cost , resulting from reduced
service bureau expense. Paper savings and
the training of personnel are also factored
into the total cost.
"Our estimate is that we will recoup
capital costs in five years," adds Sorenson . "And that within a IO-year time
frame we should show a $2 million
saving. "
Cue Datawest has been active both as
consultant and in a service bureau capacity on the North Shore project, as it has
with many other credit union applications.
The consulting, according to Proceviat,
tends to be limited to integrated clients.
Some of the largest credit unions have
their own data processing system, and in
those cases the credit union client tends
to call in Datawest only on special
problems .
Bill Sorenson believes that a networking system is applicable even to smaller
credit union organizations.
One small credit union that is on the
point of upgrading its computer system
is Ladysmith & District Credit Union
on Vancouver Island. Here the systems
problem is limited to a single office, but
. . .''.
12 ENTERPRISE SEPTEMBER I OCTOBER 1989
that does not mean that growth in usage
is not creating its problems.
"At present, we're operating on a MAI
Basic IV system, " says Alex Samuel,
Ladysmith Loans Manager. "Seven terminals are linked to a central memory
system and two printers. They handle
accounts, loans and other basic data. The
fact is , w~'ve simply outgrown the
terminals we had. "
In addition, General Manager Derek
Dorken has a separate dedicated PC in his
office , which is used for payroll, budget ,
profit and loss and other internal operations , but is not integrated with the other
terminals.
Ladysmith and District has an upgrading plan underway that will not only give
its existing system increased capacity but
will link it to B.C. Central in Vancouver
for posting cheques and other operations.
Cost of the expanded network is expected
to be about $100 ,000.
Meanwhile, at Vancouver City Savings Credit Union, a much different
enhancement program is underway , according to Richard Wafer, Vice-President,
Computer Services. The main thrust in the
VanCity program is the improvement of
branch automation in an already established central network system operating
on a GEAC 8000. Software modification
is also involved. The program is expected
to be completed by the spring of 1990 at
a total cost of $1.5 million .
"Most of the improvement ," says
Wafer, "will be in performanc e and
capacity."
Hermann Riepl , President and CEO at
Edelweiss Credit Union in Vancouver,
suggests that his credit union's plan for
upgrading is not a case of a new wave of
automation, since the original wave never
stopped.
.... : .,- -. : :
-. -.
.~ , -.
-. -. -.
"Where branches become autonomous,"
says Riepl, "the PCs talk to the modem
or controller, which batches information
and sends it to the central system.
Currently, dumb terminals are being
replaced with smart terminals. Under the
old system , only central posting was
networked . Now, with an on-line system,
everything goes in , including marketing
data , for example."
Cue Datawest is also completing a
branch pilot for Edelweiss . Riepl estimates the capital cost of the networking
system at about $250,000, or approximately $50,000 per branch. Savings in
operating costs under the new system,
according to Riepl , should be close to
$100,000 per year. lf such is the case, the
planned modification would generate a
very rapid payout of two and a half years .
And just as smaller credit unions can
utilize the new technology literally " to
do anything the banks can do", a larger,
highly innovative credit union, such as
Richmond Savings Credit Union, can
in many instances develop strategy through
the use of its computer systems to gain
competitive advantages over the largest
commercial banks.
" By compiling electronic files on our
clients, " says Don Tuline, President of
Richmond Savings, "we can look at our
total relationship with a client, analyze the
individual person' s habits, and target that
person 's market accordingly ."
By considering the member's age,
assets , RRSPs, balances and loans, quality
products can be offered economically by
bringing costs down. In other words ,
instead of one rate or one price applied
to a member, pricing can take place on
an individual basis , judging by the variety
of business the individual brings to the
credit union.
"Free chequing or the reduction of
certain fees can be based on the c~
performance ," says Tuline , "rather than
some arbitrary rate that applies to everyone regardle ss of the total relationship."
A ' cherry-picker ' who does most of his
banking at a major bank but comes in
response to a special rate or product is
quickly identified and given the alternative of paying the price or doing a wider
variety of business.
"It's all made possible," says Tuline,
"by an integrated computer system supplied by Prologic , but designed for
individual application s by our in-house
people. Our office automation includes
executive information services that enable
us to monitor the volume and profitability
of our branches at a glance ."
Richmond Savings ' system has been
on-line for two years , although for a total
of five years, the credit union has made
widespread use of PCs. Tuline is convinced the totally integrated system has
been instrumental in giving the credit
union its distinct advantage in many areas
of marketing and communication.
Others seem to agree. The systems team
at Richmond Savings has been contacted
by numerous banks, trust companies and
savings and loan organizations as widely
scattered as Japan, Australia and the U.S. ,
all interested in discovering the source of
the credit union 's profitability.
"It's no secret," says Tuline. "We'll
talk to anybody about it. The trick is that
nobody else has been able to do it the way
we do .. ,
Meanwhile, the handwriting on the
wall for credit unions both big and small
is obvious: getting it all together, technologically speaking , can be the answer to
survival in the banking world. And at
moderate cost.
D
~
~
~-
1989 13
Province-wide
advertising
enters the ...
With the support of B.C. 's credit unions, the
Knowledge Network is producing an exciting
new program-KidZone.
Intended for kids aged 6 to 12 years, the
program explores a range of issues that concern
British Columbia's young people. High-tech
happenings, environmental needs , sports stories,
lifestyles, hints on pet care and safety, money
management and a B.C. Calendar of Events are
all included in this lively half-hour magazinestyle show.
Now being shot in B.C. , the 13 episodes are
hosted by four local actors and actresses, aged
11 to 15 years, under the direction of a number
of well-known B .C. directors.
"B.C. 's credit unions are helping fill a real
need for high-quality children's programming ,"
says Caroline Young, Manager of Children's
Programming for the Knowledge Network. "By
sponsoring KidZone' s money management segments , they are showing children the value of
earning , saving and spending money wisely."
An accompanying KidZone magazine is designed to stimulate young audiences by further
exploring themes and activities seen on the TV
series. As well , a complementary B.C. Calendar
Chris
Clare
of Events for kids will be available throughout
the province .
Joining credit unions as co-sponsors of KidZone
are Ralston Purina Canada, B.C. Hydro, Environment Canada , the provincial Ministry of
Environment, Mohawk Oil and Apple Canada.
Beginning November 3, KidZone will be aired
twice weekly on the Knowledge Network.
To maximize the marketing benefits of the
program , credit unions are offering members
special low rates on KidZone magazine subscriptions, plus a chance to win an Apple
computer. The offer is detailed in colourful
statement stuffers and print ads, available through
B.C. Central.
An edited 30-minute video version of KidZone
segments dealing with money, business and the
credit unions' sponsorship will be available later
for distribution to local schools and youth
D
groups.
For complete information on how your credit
union can participate , call B .C. Central' s
Market Research & Product Development Department.
Jarrett
Jean
For more on the Province-Wide Campaign, turn to page 28
ENTERPRISE SEPTEMBER I OCTOBER 1989
15
Beyond the Market and the State:
New Directions in Community Development
A book review by Coro T. Strandberg,
Director, Vancouver City Savings Credit Union
Sometimes we get tired. Our
vision fades. Our co-operative
agenda is tabled while we tackle
real and pressing marketplace
;
pressures. We bemoan community apathy, the lack of cooperative action, the Jack of
direction and spiritual zeal characteristic of our pioneers.
And then a book comes along.
A book that thoughtfully and
thoroughly presents a blueprint
for action, boldly translating a
vision of economic democracy
into a practical and achievable
community-based program.
Beyond the Market and the
State: New Direction s in Community Development is timely.
A series of essays edited by
Severyn Bruyn and James Meehan (professors of Sociology at
Boston College), this book pulls
together the diversity of activity
in the co-operative and commu- Coro Strandberg
nity finance movements and advances a and community development corporaframework which goes beyond market
tions. The model thus validates and builds
competition and government control. Con- on present day realities; the framework's
cerned with the development of vital and comprehensivene ss is its inspiration.
stable community economies, Beyond the
The . book is essential reading because
Market and the State is a sharp contrast
of
its currency, for its comprehensive
to many other visionary books on new or
presentation
of, background to and theoalternative economies because it is
retical
rationale
for co-operative and
grounded in current practices. As such ,
community-based institutions. However,
the reader will feel on familiar territory,
its most significant contribution is the
recognizing many features of the model
challenge which gives rise to is title:
presented in this volume: community
Beyond
the Market and the State. The
financial institutions , worker, producer
editors have articulated a vision which
and consumer co-operatives, community
land trusts, democratic trade associations
takes the co-operative sector out of the
16
ENTERPRISE SEPTEMBER I OCTOBER 1989
margins and makes it central
to the emerging economy. They
do this by describing firms and
associations which are designed
to remove land, labour and
capital selectively from the
competitive market and return
them gradually to the hands of
local people and communities.
Pointing to the inadequacies of
the competitive market which
have led to mass unemployment , cycles of inflation and
recession, labour-management
conflict, pollution, consumer
exploitation, etc., neither do
Bruyn and Meehan feel that
state socialism presents a human alternative, as " it imposes
a giant state command system
over the whole society".
Socialist states have become
burdened with systems of centralized power. In the introduction , the editors question
whether a new system is capable of going
beyond the capitalist market and the
regulatory state . The remainder of the
book builds on their audacious claim: a
feasible alternative is not only possible,
it is already evolving within the gaps in
our modem economies.
The twin goals of local autonomy and
market accountability are met through
community land trusts (where land is
purchased by democratic corporations in
the public interest to keep land from
speculation and exploitation) and worker
co-operatives and community finance
institutions (such as credit unions and
·II
community loan funds). The need for
capaci ty building and local viability is
addressed through community development corporations (commu nity-controlled
institutions designed to revitalize depressed neighbourhoods by offering housing development , commercial revitalization, business financing and assistance,
job training and placement , social services, etc. ) and cons umer co-operatives.
These five elements which form the basis
of the economic altern ative are define d
and elaborated sequentially throughout
the book. The reader is thus left with a
substan tial background in communi ty
economic development practices and principles at book 's end . The editors have
also included in the appendix a definition
of worker co-operat ives, a description of
the Mo ndragan Model of co-operative
development and a resource directory of
American and Canadian organizations
which are involved in supporting and
financing loca l economic and commun ity
development activit ies.
Missing from this otherwise exhaustive
257-page text are two critica l compo nents: the role and significance of trade
unions in the democratic alternat ive and
the matter of resource management, two
vital consideratio ns in the B.C. exper ience. They give no apology for this
omission, perhaps becau se these debates
are not prevalent in the American context.
Apart from this limitation, the editors
have been thorough in their prescriptio n
for an achievable econom ic alternative.
Meehan and Bruyn have breathed fresh
life into a movement which is undergoing
a crisis of relevan cy. The framework is
radica l, but not revo lutionary. It is
inspiring , but not utopian. Beyond the
Mark et and th~ State should be on the
bookshelf of every serious co-operator.
Coro Strandberg is manager of a seniors'
social service agency in New Westminster. She was elected to the Board of
Directors of Vancouver City Savings in
D
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The launch of Stabilization Central
Credit unions take proactive stance in pursuit of self-regulation
by Gayle Stevenson
The recent announcement that initiatives
are in progress to create a systemcontrolled stabilization authority takes
B. C. credit unions a step closer to the
goal of self-regulation and caps two years
of legislative achievement.
The forging of a consensus pos1t10n
on the Credit Union Act in 1987,
government's guarantee of credit union
deposit insurance in 1988, and introduction of the Credit Union Incorporation
Act and the Financial Institutions Act in
1989 are among the milestones preceding
this landmark action.
Stabilization Central Credit Union of
B. C. , as the new entity is called, will
operate from the B.C. Credit Union
Centre. At this stage, its specific areas
of authority are under discussion with the
soon-to-be-incorporated Financial Institu- Interim CEO Ross Montgomery
tions Commission (FlCOM) . Nevertheless, the stated aim of the corporation is, throughout the system. A certified genover time, to eliminate the need for direct eral accountant, most recently employed
government supervision of British Co- as a consultant, Montgomery's early
career included management positions at
lumbia credit unions.
CU&C
and B.C. Central plus a directorAn interim board of directors was
ship at Vancouver City Savings Credit
appointed in July to oversee the incorporation process. Representing seven di- Union . For over a decade, he was head
of the Credit Union Reserve Board
verse credit unions and all six provincial
regions, the board is also involved in (CURB) with direct responsibility for
system stabilization and regulation. He
negotiations concerning the initial transfer of some supervisory powers from ended his tenure in 1986, shortly after
CURB became the Credit Union Deposit
CUDIC (now part of FICOM) to the new
corporation.
Insurance Corporation , commonly known
as CUDlC.
Doug Stanley, CEO of Kootenay
Savings Credit Union , was elected
Despite the insight such a background
interim chairman. A permanent slate of provides and the co-operative attitude
directors will be elected in April 1990, demonstrated by the various players ,
at the first annual general meeting of the Montgomery admits that certain issues
Stabilization Central.
associated with start-up--such as the
division of duties between the new
The board's appointment of credit
matters
union veteran Ross Montgomery as in- corporation and FICOM-are
terim CEO is interpreted as a sound move requiring sensitive negotiation. "Once
18 ENTERPRISE SEPTEMBER I OCTOBER 1989
FICOM is operational, its mandate will
combine all functions formerly handled
by CUDIC and the Superintendentincluding credit union stabilization, " he
explains . "We expect that some of this
responsibility will be transferred to the
new corporation. But FICOM will want
to see how we do before considering a
further transfer of authority."
According to interim chairman Stanley,
the new Stabilization Central will, upon
incorporation, be fully prepared to commence supervision of credit unions. "While
we would like to see the transfer of all
credit unions under supervision to the
new corporation, we realize that this is
neither practical nor likely to happen
within the immediate future," says Stanley.
Nevertheless, he reiterates that this is the
corporation's long-term goal, with FICOM
continuing to work with deficit credit
unions and those which require financial
assistance.
While they still face unresolved issues ,
Montgomery and Stanley emphatically
agree that formation of the Stabilization
Central is a giant leap forward for B.C.
credit unions . Montgomery points to the
successful model that exists in Quebec's
Desjardins system, which maintains its
own separate fund, handles all aspects of
supervision, arranges mergers and liquidations, and has never made a call on
government-run deposit insurance. He
notes , "The Desjardins model is what we
aspire to."
Stanley, meanwhile, emphasizes the
more immediate operational aspects of
system-controlled stabilization. For example, he does not see the new corporation necessarily following CUDIC's approach to credit union supervision. Rather,
he believes that supervisory procedures
and personnel that respond more closely
to the idiosyncracie s of credit union s will
be more efficient and effective.
For Stanley, a primary objective of
stabi lization is to strengthen a troubled
credit union to the point where it can be
released without risk that it will return to
supervision. To achieve this , Stanley
says: "The Stabili zation Central mu st be
able to work with credit unions in a
constructive and po sitive manner. Knowing that prevention is far better than cure,
we believe this process shou ld start well
before supervi sion is required." He repeats that , "T he overall goal is to do our
job in such a way that, in time, government supervision of credit unions through
FICOM will be unnece ssary."
Thus, credit union monitoring will be
a major area of concentration for the
Stabilization Central. The new entity will
work in concert with FICOM and B.C.
Central on early detection of potentia l
problems , which , according
to
Stanley, "w ill allow us to get into vulnerable credit unions soon er rather than
later ." Such a credit union would receive
remedial assistance and inten sified monitoring while working to resolve its own
specific situation. "We want to help
credit unions so lve problem s for themselves rather than build a staff to solve
problems for credit unions," says Stanl ey.
Montgomery also envisions a lean
corporation committed to preventing credit
unions from going under supervision. He
too sees Stabilization Central entering the
picture ahead of the regulator s to defuse
problems before they become serious
enough for supervi sion. He says: "Credit
union s are autonomous organizations.
We under stand their problem s and want
to help them evolve solutions~without
the heavy hand associated with a regulator. " Nevertheless, if the credit union
fails to respond or the situation is not
remedied , the case would be referred to
FICOM - which alone is empowered to
place credit unions under supervision .
"U ltimately , if there's a Joss , no matter
what the prob lem is, the mone y comes
from the credit unions. The Stabilization
Central will want to look at any problem
that could become a potential cost to its
members . It 's in the inter est of the entire
system that problems be turned around
early," says Montgomery.
The Stabilization Central is a streamlined operation, clearly dedicated to
avoiding duplicati on of effo rt. Consequently, the organization will not collect
its own monitoring data but will use that
provided by FICOM and B.C. Central.
As well, rather than build its own staff,
the new corporation will work closely
with per son nel from Central 's Deve lopment Department and also plans to make
use of specialized expe rti se available in
the system. "O ne of the big advantages
of being a system-ow ned organization is
that we can call upon the resources at
B.C. Central-and among individual credit
unions, " says Montgomery. "If there are
part icular specialists in one credit union
who can help solve problems at another ,
we're going to use them . "
According to Montgomery , there is no
better time than the pres ent to pursue
self-regulation: " We're in an excellent
eco nomic period, with earnings and
reserve leve ls at their highest point in
history. We have excellent quality in
boards of direc tors and managem ent , as
well as credit unions working together to
an unprecedented degree in support of the
system. This is our opportunity to reach
our goal-to emerge as a self-stabilizing
syste m, capable of dealing with its own
problems , without depending on government."
D
The interim board of directors of Stabilization Central represents all credit union regions .
From left, back row: Dave Griffeth (Lake View); Brian Elliot (Maple Ridg e Community);
Ray Bush (Island Savings).
Front: interim CEO Ross Montgomery ; interim chairman
Doug Stanley (Kootenay Savings); David Levi (Vancouver City Savings); Michael Radi
(Osoyoos); Philip Moore (Greater Vancouver Community)
ENTERPRISE SEPTEMBER I OCTOBER 1989
19
What's the point of
the point-factor system?
An interview with Lin Sheffield , Development Consultant,
B.C . Central Credit Union, on the new credit union Job Grading System
by Tom Gies
I
I
I
I
1 1
I
I
I
I
There is a great deal of disparity in job
evaluation and compensation management in the B.C. credit union system~
some credit unions use a point system,
others use a grade system. Therefore ,
there is no meaningful method of comparing salaries. Compensation may vary
widely for a position which appears to
be the same at different credit unions .
Since staff salaries are the largest expense
in a credit union budget, effective compensation is crucial. A proper job evaluation system is essential to achieve such
a goal.
A committee has been working for
more than a year to develop the Job
Grading System for B.C. credit unions.
Training is being conducted throughout
the province to inform credit union
personnel of the details of the system.
Members of the committee include Karen
Archer, North Shore Credit Union,
Gary Hales, Kelowna and District Credit
Union, Debra Lindsay , Maple Ridge
Community Credit Union, Mike Wagnell , previously with Pacific Coast Savings Credit Union, Will Spragge, First
Heritage Savings Credit Union and
Cindy Rogers and Lin Sheffield, B.C.
Central.
Enterprise interviewed Sheffield recently for an update on the new system.
Enterprise: Why was this particular
evaluation system selected over those that
were previously used? What are its
specific features and benefits?
Sheffield: B.C. credit unions have been
using several different systems. A point
20 ENTERPRISE SEPTEMBER I OCTOBER 1989
factor system developed about 15 years
ago by B.C and Ontario Centrals was
used by about 30 of our credit unions.
Several of the larger credit unions used
the Hay System and some medium-sized
and smaller credit unions just went by the
market. But the market is so volatile that
it is not really reliable. It was obvious
we needed a more sophisticated version
of the point factor system originated by
the two centrals.
We received funding from the federal
Department of Employment and Immigration and our committee was set up with
CUERAC (Credit Union Employee Relations Advisory Committee) members about
a year ago. We decided that the new job
evaluation and compensation program
must be computerized , user-friendly, participative , linked closely to markets , and
have the ability to administer salariesand we want it to be so good that every
credit union in the province would want
to use it.
We chose this particular system because it can be customized for credit
unions while at the same time being
supported by market salary information.
Enterprise: Why has an outside consulting firm been contra cted?
Sheffield: Specialized expertise is needed
when designing something as important
and sensitive as a job grading system .
The Wyatt Company is well known in the
financial services industry. To the best
of our knowledge, the company is the
only available source of software that
handles both job grading and salary
administration. Also, it had the flexibility
needed to custom tailor its software to the
needs of the credit union system.
The consultants provided guidance in
designing the system. They identified
typical compensable factors , after taking
20 factors we came up with and testing
them to determine which were the best
predictors of market ranges. They also
tested the system in credit union focus
groups and produced all the documentation.
Enterprise: Could you provide more
details on how factors such as creativity,
talent and effort are rated?
Sheffield: We struggled with some of
these. Creativity, we decided, was a
function of individual performance. Some
of these intangible factors are captured
in broader topics such as decision-making
and the amount of knowledge you need
to make your decisions. If an individual
does a job three times better than another
because they are highly creative or
innovative or motivated , that should not
put them into a higher salary range.
Rather, they should be at a higher point
within the salary range.
Enterprise: How can we be sure this
system accurately reflects and responds
to overall market conditions-and differences between various regions?
Sheffield: It is intended that the compensation advisory committee advise B.C.
Central and credit unions about salary
surveys at least annually. On a regional
basis, the software allows individual
credit unions to add their own market
observations reflecting local conditions.
For example, credit unions in the East
Kootenay region may consider a secretary's salary at Cominco and a bank
teller 's salary in Cranbrook when determining compensation for credit union
staff.
Enterprise: How do employees feel
about this system?
Sheffield: My experience so far, and I
don't believe it is an exaggeration, is that
they are overwhelmingly positive. We
could have finished it sooner but we
wanted to make sure that when we
delivered it to employees it was acceptable. So we conducted focus groups at
several credit unions including Surrey and
North Shore. We found that the employees provided invaluable suggestions.
In addition , we are finding that the job
evaluation process has interesting spinoffs.
The employees and their supervisors have
opened a dialogue regarding many aspects of the positions .
Enterprise: What is the appeal process ?
Sheffield: Probably the best safeguard is
that we are developing a database of how
credit unions have evaluated various
positions. If an employee is not satisfied
with an evaluation, his or her manager
could contact Central and receive information on a similar position.
However , while we foresee most jobs
remaining at their current grade, no one
will have his or her grade reduced as a
result of the new system. For those who
were overpaid under the old process, we
recommend that their responsibility be
increased so they rise to the job's level.
It' s meant to be a positive and participative process and an example of correct
employee relations.
Enterprise: What effect does the new
system have on job stability and advancement potential within credit unions?
Sheffield: I'm hoping that over time job
grading will enhance logical career progressions within the credit union system.
One of the stumbling blocks we have now
is that it is difficult to take someone from
a position at one credit union to a better
position at another credit union on a
different grading structure . It may look
like a promotion but could actually result
in a cut in salary.
We've struggled with the difference
between managers of small credit unions
and branch managers of large ones. What
is the percentage difference in responsibility? Or what about the difference
between a branch manager in a credit
union compared to a regional manager in
a bank? Trying to assign a mathematical
relationship is not easy. But we believe
we are fulfilling the overaJl mandate of
the program which is to manage compensation better.
From the individual credit union perspective , moving to a single job evaluation system and sharing information
through B.C. Central streamlines the
human resource function and establishes
a broader approach to compensation
issues. It will also help to smooth out
some of the salary anomalies that inflate
budgets and impede the movement of
personnel within the system. Implementing and administrating the Job Grading
System will also improve B.C. Central's
human resource services to credit unions.
Enterprise: How is training and support
provided?
Sheffield: Regional sessions include an
evening and a one-day session. The
evening session for management covers
compensation in general, trends, practices, costs, motivation , pitfalls and an
introduction to the job evaluation and
compensation system. The next day the
system is studied in depth. The whole
idea is to get the expertise out there and
transfer the skills.
The next level of support is the
hot-line. There is one for software support and one for user system support. The
final level of support involves having me
available to consult on everything from
grading to determining the impact on the
bottom-line.
Enterprise: In summary, what was the
point of bringing in the new system?
Sheffield: To help the B.C. credit union
system manage compensation more effectively by providing better information and
knowledge and offering a tool to promote
discussion on job grading and compensation.
0
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Newsletters
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Folders & flyers
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PUBLIC RELATIONS
Pens, pencils , rulers .
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Travels with Tucker
From inspector to supervisor to super manager:
a 30-year perspective on the B. C. credit union movement
by Tom Gies
Dedication: Years ago, when Earl Tucker
was on credit union business in a remote
coastal area of the province, the hotel
fire alarm rang in the middle of the night.
The panicky guests ran into the chilly
night air. Some grabbed their clothes,
others held night-stand photos of their
loved ones, a few lugged large suitcases.
Tucker stood off to the side, half-dr essed
and somewhat embarrassed , clutching a
box of credit union documents.
Born in Manitoba, Earl Tucker headed
to B.C. in the 1950s and, like many
young men of that era, worked at a series
of jobs in a variety of vocations. In
addition, he found time to earn a diploma
in accounting and public administration
from the University of Victoria. In 1960,
he landed a government position that
piqued his interest: credit union inspector.
He recalls that there were 326 credit
unions in the province when he started.
Tucker and two co-workers inspected
each and every one during a hectic
13-month period .
"We moved, we worked ," he remembers. "It was fun and it was interesting.
But often we were away from home for
weeks at a time, working well into the
night and on weekends."
Vancouver City Savings' assets at that
time were about $4 million. But most
credit unions Tucker inspected were
minuscule. "Most of them operated out
of someone's kitchen. More than once I
had to shoo the chickens away from a
cardboard box where the credit union
books were kept. The people we dealt
22 ENTERPRISE SEPTEMBER I OCTOBER 1989
with were usually volunteer treasurers
and sometimes we had to completely
reconstruct the records and train them in
the basics. Often I would not get back to
my hotel room until after midnighttired, but with a good feeling."
The most difficult part for Tucker was
uncovering defalcations. Between 1960
and 1970, he discovered 25 cases of fraud
and all but two resulted in convictions.
While the time spent attending court and
otherwise dealing with such cases was
staggering, Tucker's foremost feeling
was one of disappointment. "T here are
so many committed, down-to-earth people involved in the credit union movement and they were always brokenhearted to have their trust betrayed. That
was the unhappy part of the work," he
says.
At the time , he explains , guidelines
were very loose . The main concern of the
inspectors was that the books balanced.
"There are so many committed,
down-to-earth people involved
in the credit union movement."
But Tucker, being a novice and a
naturally inquisitive person, grew concerned about loan security. He found
many mortgages, in particular, that had
to be completely rewritten. As a result
he helped introduce measures such as a
five-year call (renewal) clause mortgage
in the early 1960s to allow the adjustment
of interest rates, "against the objections
of almost everyone." The various improvements were later credited with
helping many credit unions weather the
slowdowns in the B.C. economy in 1968
and 1973-74.
Meanwhile , Rip Robinson, Manager
of the Credit Union Reserve Board from
1966 to 1970, was also concerned about
the lax way in which many B.C. credit
unions were being operated. He lobbied
the provincial government for changes in
legislation. In mid-1968 , CURB became
a true insurance corporation with enhanced powers of supervision. Before
year-end, the reserve board was supervising 40 credit unions, mainly for lending
and collection problems .
In 1970, Robinson retired and Geoff
Hook became CURB manager. A few
months later he hired Earl Tucker as a
supervisor. Tucker remembers , "It was
up my alley because I enjoyed working
with credit unions to get them out of their
difficulties." At the time, there were 43
credit unions under supervision and CURB
was given a fairly free rein to help them
out.
The early 1970s were heady times for
the B.C. credit union movement, Tucker
recalls . Total assets increased by a
whopping 43 percent in 1971. The same
year CURB was given legal authority to
approve or reject business loans and the
following year the master bond program
was implemented.
CURB staff were soon developing
policies on everything from deposits and
withdrawals to tellers' handbooks , per-
sonnel and lending. The new policies
were designed to prevent problems from
occurring. But a few times a year the
CURB supervisors recommended that
managers be "let go" for mismanagement. However, Tucker to this day is
adamant that the priority was always to
work with management and boards to find
solutions by improving administration
tactics, rather than simply demanding
that "heads roll . "
Working for CURB was similar in
many ways to his government inspection
position, Tucker says. The travel was
extensive, the hours onerous and the
search for the cause of problems frustrating but ultimately rewarding. Some credit
unions were grateful for the help; others
were suspicious of the meddlers from
outside.
It was about this time that one of the
incidents contributing to the legion of
Earl Tucker stories took place. Flying
from Terrace to Smithers on a CURB
assignment, his DC-3 hit a downdraft,
dropped about 1,000 feet and then went
straight up. Everyone was strapped in
except a stewardess who crashed semiconscious to the floor about six rows
behind Tucker. He yelled at people near
her to help. But the plane was still
bouncing about and the terrified passengers would not go to her aid. So Tucker
crawled back, clutching at seats along the
way, and staunched the profuse bleeding
from her head. He later received a warm
thank-you letter from the stewardess who
explained that she had broken her hip and
collarbone and needed plastic surgery to
repair her deep cut.
A trip to Bums Lake in 1975 was less
vio lent but equally memorable. The local
credit union was under supervision and
the decision was made to fire the manager. At a late-night meeting, Tucker
explained he would have to send a CURB
staffer to run the credit union for a few
weeks until a replacement could be
found. But early the next morning, the
Presiden t ca lled at the hotel and demanded Tucker accompany him to the
Pan Handle Cafe. Soon he was having
coffee with a rather casually-dressed,
long-haired young man the Pres ident
wanted to hire as manager.
Tucker recalls that although the candidate, Dale Eichar, didn't know what a
credit union was, "he had an inquisitive
Earl Tucker reflects on his 30-year career in the B. C. credit union system
manner and answered questions in a
straight-forward way. Furthern1ore , he
had a degree in Business Administration
from California State University and was
working as an assistant manager at a local
building supply company." Tucker gambled and offered Eichar the job on the
spot. Almost 10 years later, Tucker would
be rewarded for his snap decision.
In 1976, Ross Montgomery (current
interim CEO of Stabilization Centra l)
assumed the management reins at CURB.
He says that Ear l Tucker "worked night
and day helping credit unions, even those
not under supervision. Tucker developed
an accurate monitoring system so he
could warn organizations if they were
close to being put under supervision. But
he was a strong believer in the movement
and saw himself as an advocate for the
members. In addition, his enthusiasm for
the system encouraged many talented
people to stick with it rather than join a
bank."
Montgomery recalls a meeting in the
Fraser Valley that went on until the
middle of the night. Tucke r dropped
Mon tgomery off and then drove to his
own home, arriving after 5 a.m. When
Montgomery got to the office at 10 the
ENTERPRISE SEPTEMBER I OCTOBER 1989
23
I
I
I
I
11
I
next morning, Tucker had already been
there for an hour or so.
!in would flow and it would take a long
time to fall asleep later."
Tucker laughs and points out that he
had " a few hours sleep. That happened
many a time. One of the things about
working at CURB was that the meetings
were highly stimulating. Some were
educational and some degenerated into
great arguments. Either way, the adrena-
After several more years at CURB , the
long hours and hectic travel schedule had
taken their toll on Tucker's health and he
decided to seek less-stressful employment, preferably outside Vancouver. Fortunately, he had remained in contact with
Dale Eichar, who had turned around the
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through Robert O'Connor & Company Inc.,
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24 ENTERPRISE SEPTEMBER I OCTOBER 1989
fortunes of the credit union at Bum s Lake
and, as if to prove it was no fluke , done
the same with the credit union at Port
Mellon , which was merged with Sunshine Coast Credit Union in 1982.
A role reversal was completed in 1985
when Earl Tucker became the Gibsons
branch manager of Sunshine Coast under
Genera l Manager Dale Eichar. Tucker
was delighted with the change because it
gave him a chance to deal directly, on a
daily basis, with credit union members.
Eichar attests to the ease with which
Tucker made the transition. "His strength
is dealing with people: members and
staff. Since Earl was forced to retire
earlier this year for health reasons , we
have had literally hundreds of inquiries
about him. We are actually advertising
that he will be in the branch at the open
house on Credit Union Day. He really is
that popular and missed that much. "
Drawing from his three decades of
involvement in the B.C. credit union
system, Tucker is not reticent about
voicing some of his concerns. He cautions that the trend to providing "o nestop shopping" at credit unions must not
occur at the expense of meeting the needs
of members on a personal basis. He is
particularly upset to see larger credit
unions take over smaller ones simply for
the sake of growth, unless one is floundering.
Director and management training , he
suggests, has been a great success , and
should be expanded to include secondline management. Such training should
stimulate juni or management and heighten
their interest in credit union principles so
they regard their job as a career and do
not readily jump to another financial
institution.
Finally, with a faraway look in his eyes
as he peers out over Georgia Strait from
his retirement home in Powell River, Earl
Tucker says, "I've seen our credit union
system go from cardboard boxes in
someone's kitchen to ultra-professional
corporate offices . I take a lot of satisfaction from seeing those successes. But the
real joy is from remaining friends with
the many wonderful people I worked
with, both from the authority end and the
D
member end."
The Director's
Chair
by Tom Gies
Bob Gela has been a member of Powell River Credit Union
since 1946 but did not become actively involved in its operations
until the early 1980s. Starting out on the credit committee, he
advanced to the Board of Directors and has been President for
the past four years .
The credit union started as a Roman Catholic study group in
the 1930s but soon opened its doors to the entire community.
In 1939, Powell River received B .C. 's first credit union charter .
About 70 percent of the current membership of 3,500 are mill
workers and their families fro m the local MacMillan Bloedel
pulp and paper plant.
MacBlo is the largest employer in the Powell River area,
followed by schools, hospitals and government. Low house
prices are attracting an increasing number of retired persons.
Enterprise : How would you describe Powell River Credit Union
when you joined more than 40 years ago?
Ge/a: It was a grass roots operation located very close to the
mill. Most members worked at MacBlo and considered the
credit union a 'blue collar bank.' A few years after I joined, l
got a fair-sized loan for an operation for my young son. I've
been a credit union booster ever since, although I didn' t get
very involved until recently. l retired from the mill in 1987 after
40 years as an electronics technician and now have lots of time
for the credit union .
Enterprise : Your credit union's assets reached $13 .5 million
in July, up almost half a million since the end of 1988. They
rose 15 and 12 percent the previous years . How can you account
for this steady rise ?
Gela: Bill James. He was hired as Manager in 1985 and we
haven't looked back. He is an astute , aggressive businessman
with a hands-on, professional approach. He taught the board the
importance of strategic planning for budgeting and setting goals
and objectives.
His leadership prompted our move to the mall, purchase of
an insurance agency and a new emphasis on small business
loans. We get a lot of walk-in traffic from the mall, especially
on Saturdays, as none of the four banks in town are open that
day. In addition, our efficiency has been in1proved through
computerization. We don 't have the expense of an ATM but
our members' MasterCards can access bank machines around
town.
Enterprise: What is the make-up of your board ?
Gela: Not surprisingly, considering our membership base, all
but two are active or retired mill workers. The other two are
business people. But many of our newer directors are young and
have brought progressive ideas . I would say they have lowered
the average age into the 40s .
Bob Ge/a
Enterprise: You recently had yo ur 50th anniversary celebration. How was it and what advice could you offer to other credit
unions that may soon be planning similar festivities?
Gela: We had a great turnout-lot s of old-time members and
visiting dignitaries . Unfortunately, we could not locate any of
the original members. But a widow of one of them cut the
birthday cake and some of the original employees attended. One
of the most popular aspects was the memorabilia we laid out:
old pictures and passbooks . People really enjoyed reminiscing.
We also made a point of writing down some of the stories the
old-timers told us.
The event was good public relations for the credit union . The
local media were very supportive. We spent about $6 ,000 for
everything including the hall rental and banquet and feel it was
well spent.
Enterprise: What are you doing to attract new members?
Gela: We sponsored a credit union soccer school this year in
celebration of the anniversary and sponsor a Little League
baseball team every year. Bill James also goes into the schools
on a regular basis and explains credit union principles. We used
to have a school savings plan but dropped it, after a lot of
soul-searching, because the cost in staff time became prohibitive. We have replaced it with a Fat Cat youth program.
Our new location and emphasis on small business should
continue to add to assets and some new members. But for the
most part , our growth will come from the basic credit union
principle of providing personalized service to our members . For
instance, we provide special services such as temporary changes
to our loan policies when there are labour problems at the mill.
We would never abandon our members at such times. If you
believe in the philosophy of your credit union , you have faith
in the members and faith in growth.
Almost one-third of Powell River' s population currently
belongs to the credit union. We have our share of the market.
But we are always striving for improvement.
D
ENTERPRISE SEPTEMBER I OCTOBER 1989 25
Co-operative insurers
work together
Alliance between CUMIS and
The Co-operators benefits B .C. credit unions
by Tom Gies
Tragedy taught credit union pioneers the
need for life insurance protection in their
credit union operations.
It came in the "Lesson of the
Lineman"-the story of a power company lineman who belonged to one of the
early credit unions more than 50 years
ago. It happened on a winter day as he
was doing his daily job on the icecovered steel latticework of a giant high
tension tower. A sudden crackle was
heard, a burst of flame shot out and a
loose length of cable whipped at him .
In seconds he was dead, hanging limply
by his safety belt.
The lineman had borrowed $250 only
two days before his fatal accident. Two
other linemen were co-makers and they
paid the loan out of their own savings.
However, the directors of the credit
union were unhappy and unsatisfied.
The co-operative insurance movement in
Canada continues to evolve since the
lesson of the lineman. Many of the credit
union-related services of the two main
players were combined into one marketing arm about three years ago and , more
recently , Canadian control became a
reality.
CUNA Mutual changed the name of its
Canadian operations to CUMIS (Credit
Union Members' Insurance Societies) in
1974. The Canadian entity joined forces
with The Co-operators in 1986 to create
a new marketing arm: CUIS (Credit
Union Insurance Services). Jim Laverick,
Region Vice-President of The Co operators, explained that having two
competing co-operative insurance compa -
They felt they had to find a way to
make the credit union debt "die with the
debtor". Credit life insurance seemed to
be the logical answer, but at the time it
had many restrictions and premiums
were prohibitive.
In 1935, six months after the formation of the Credit Union National
Association in Kansas City, the dream
became a reality when CUNA Mutual
Insurance Society was created to serve
the needs of North American credit
unions . The Canadian arm of this
organization became CUMIS.
Later, in 1944, a co-operative insurance company was formed in Canada
with many of the same principles; this
company was The Co-operators.
Jim Craig (left) and Paul Herdman of CUMIS
26
ENTERPRISE SEPTEMBER I OCTOBER 1989
nies in Canada servi ng credit unions was
viewed as a "costly duplication and in
some cases credit unions were having
difficulty deciding which one to use.
Some became allied with one or the other
and it was not a healthy situation . "
Jim Craig, Vice-President of CU MIS 's
B.C. region , agrees that the joint venture
was inevitable with both organization s
fighting for much of the same business.
He also points out that The Co-operators
and CUMIS are separate corporations ,
with CUlS as a marketing arrangement.
CUMlS works strictly with and on behalf
of credit unions and does not market
programs for individual s in B.C.
Although initially focussed on serving
the insurance needs of rural Canada, The
He also point s out that CUMIS belongs
to and supports a range of co-operative
organi zations such as CCCS, WOCCU,
Credit Union Managers Association ,
ACUTE , and more . CUMIS helped fund
B.C. Central's involvemen t with the UN
pavilion at Expo 86 and, back in the
1950s , contracted actor Lome Greene to
promote credit unions throughout Canada.
On Broadwa y: The co:operators' ne w
building opened recently in Vancouver
Co-operators is now a dominant force
across the nation. But it has not forgotten
its early mandate and current policy calls
for working "with other co-operatives
wherever feasib le to build a strong
co-operative financial system. " Unlike
CUMIS, The Co-operato rs provides services to the general public , in addition to
working with credit unions.
To facilitate the CUIS deal , staff who
dealt with credit unions from both organizations were combined to work out of the
CUMIS Marketing Office located in the
B.C. Credit Union Centre. The B.C.
Manager for CUMIS , Paul Herdman,
who previously worked for The Cooperators , adds that " a lot of time was
wasted competing before the agreement."
Profits and expenses from the joint
venture are split evenly . However , cred it
union insurance agencies are not included
under CUIS. Greg Prewitt, The Cooperators' Manager of Credit Union
Agencies, explains that about half of his
organization' s individual business in B .C.
is through credit union agencies.
The two insurance organization s and
B .C. ' s credit unions and co-operatives
are intertwined on many leve ls. Every
credit union in the province , Craig notes ,
uses at least some of CUMIS ' services
and all but eight use all of its services.
" We see oursel'vf s as a wholesaler and
the credit unions as retailers. "
'
CUMIS ' Advanced Corporate Underwriting Program studies credit union
insurance portfolios on an annual basis
and recommends updates. It is integrated
with B.C. Central' s Master Property
Insurance Program. The CUIS agreement
encourages credit unions to work with
CUMIS to develop insurance programs
to meet their operational , staff training
and litigation needs and better serve the
members.
Another innovation , Herdman adds, is
that CUMIS tends to hire credit union
personnel and teach them the intricacies
of the insurance business, rather than vice
versa , "s o they understand how the credit
union movement ticks."
More recently, CUMIS sold the majority share of its Canadian opera tions to
Canada 's credit union and caisse systems.
The new ownership structure, effective
July, 1989, also provides for five percent
ownership by CUMJS employees and
retains 40 percent for the U.S.-ba sed
CUNA Mutual. Twelve B.C. credit un-
ions also purchased share s.
The Co-operators , meanwhile , is owned
by 34 Canadian co-operatives, including
B.C. Central Credit Union , CU & C
Health Services, Prince Rupert Fishermen' s Co-op and Island Farms Dairies
Co-op. About 25 of the 30 B.C. credit
unions that have insurance agencies deal
with The Co-operators. Globally , The
Co-operator s structure s co-operat ive insurance program s for developing countries through the International Coopera tive Alliance. The Co-operators and
CUMIS spokesmen agree that the cooperative movement must work together
to ensure continued success . They noted
the potential for divisiveness in the credit
union system when more than one credit
union competes for the same business .
Craig points to the success of CUIS and
says "peop le from two different sales
cultures who had been fighting each other
for years, sometimes maliciously, joined
hands and worked together in a succe ssful
venture ."
He notes that CUMIS has refused
invitations from banks and trusts to
prepare products for them. Craig adds: " I
remember Ralph Nader telling us earlier
this decade that the strength of credit
unions is preci sely that we are not banks.
We have to remain different from them
D
and united among ourselves. "
The Co-operators' Jim Laverick (left) and Greg Prewitt
ENTERPRISE SEPTEMBER I OCTOBER 1989
27
It's Your Business
Radio commentaries
target B .C. 's biggest market
Bonnie Irving
The messages are brisk and timely; the
commentator authoritative; the spots are
targetted at salaried adults ; and the
sponsors are B .C. ' s credit unions.
It 's Your Business , an informative daily
radio commentary featuring Bonnie Irving, editor of B .C. Business magazine,
offers insight on busines s, consumer and
economic issues to listeners throughout
British Columbia.
The program , carried on participating
local stations, has been airing since
October 2 in some areas .
" We want to give British Columbians
relevant information on personal finances
and general business subjects, " says
Deines
Teresa Freeborn, B .C. Central VicePresident , Services and Communications.
"ln today's world , people are especially
interested in how business and economic
issues affect them personally, and our
radio program is aimed at that audience."
With a touch of humour where appropriate , Irving offers observations and
advice on situations that employed adults
face daily--change s in the workforce and
workplace , the increasing need for specialized training , knowing when to make
a job switch, job interview jitter s , tax
planning~and even whether a nose job
will help you succeed in business (the
answer is negative).
M:icro-Film
Each two-and-a-half minute broadcast
includes two 30-second commercial s.
Credit unions may purchase one time slot
for customized messages, while the other
is reserved for generic credit union
advertising.
·
To reinforce the radio effort, It's Your
Business print adverti sing is available
through B .C. Central. And to extend the
reach of the program , a colourful Weekly
Digest , summarizing each week ' s broadcasts , will be distributed exclusivel y
through participating credit unions . D
For details , contac t B .C. Central ' s Market Research & Product De velopment
Departm ent.
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